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November 6, 2009

Anonymous donor commits $25 million to Georgia Tech

ATLANTA (AP) — Georgia Tech’s College of Management has received a $5 million gift along with a $20 million challenge grant from an anonymous donor.

The college’s dean, Steve Salbu, says the challenge grant will provide $1 for each dollar donated to the college endowment, up to $20 million.

Salbu says the goal of the challenge grant is to allow the college to more than double its current endowment within five years.

He says the money will mean increased private support for endowed faculty chairs and professorships, undergraduate student scholarships and graduate student fellowships.

The $5 million from the same donor may be spent at the discretion of the dean.

Under the challenge grant, donors must make a qualifying gift or multi-year commitment to be fulfilled within five years.

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